Exam 15: Unemployment

Tara, the CEO of a corporation operating in a relatively poor country where wages are low, decides to raise the wages of her workers even though she faces an excess supply of labor. Her decision

When a union bargains successfully with employers, in that industry,

Most economists agree that eliminating unemployment insurance would increase the amount of unemployment in the economy.

Tom was laid off and is expecting to be recalled. He has not looked for work since being laid off. Bill is not employed and not laid off. Who is counted as unemployed in the U.S. labor force statistics?

An increase in the minimum wage

The National Labor Relations Board

An increase in the minimum wage

The Bureau of Labor Statistics' "unemployed" category includes those who were not employed, were available for work, and had tried to find employment during the previous 4 weeks.

Matilda just graduated from college. In order to devote all her efforts to college, she didn't hold a job. She is going to tour around the country on her motorcycle for a month before she starts looking for work. Other things the same, the unemployment rate

Suppose that the adult population is 4 million, the number of unemployed is 0.25 million, and the labor-force participation rate is 75%. What is the unemployment rate?

Structural unemployment results when wages are, for some reason, set above the level that brings supply and demand into equilibrium.

A person who is counted as unemployed by the Bureau of Labor Statistics

The Bureau of Labor Statistics divides the adult population into four categories: employed, underemployed, unemployed, and not in the labor force.

Public policy, without intending to do so, can increase frictional unemployment.

Minimum-wage laws matter most for the least skilled and least experienced members of the labor force, such as teenagers.

Someone who has a job but is absent from work because she is on vacation is counted as employed.

The Bureau of Labor Statistics counts a member of a surveyed household as an adult if that person is at least

Who of the following is not included in the Bureau of Labor Statistics' "employed" category?

The unemployment that results from the quantity of labor supplied exceeding the quantity demanded is called structural unemployment.

According to the theory of efficiency wages, firms operate more efficiently if wages are above the equilibrium level.